2018-06-08

Real Estate Restrictions Boom in May

More second- and thrid-tier cities launched real estate buying restrictions (or sale restrictions such as 3-year holding periods). Another report found more than 50 instances of rule tightening in over 40 cities.
iFeng: 35天7城限购 引人才带动楼市 三线城市也限购

As of today, the reporter found that from the beginning of May to the present, at least 7 cities have issued purchase orders in just 35 days. They are Harbin, Taiyuan, Guiyang, Dandong, Chengdu, Yichang and Xuzhou. Experts said that the property market in second- and third-tier cities is now more complex than first-tier cities, and BaoGang needs to suppress tug-of-war speculation. With the increasing number of talents strategic measures in the second and third tier cities, the industry believes this is an important measure to stimulate the demand of the property market.

...On May 5, Harbin stipulated the implementation of a regional sales restriction policy. Where new purchases of commodity housing are made, they may be listed and traded only three years after the signing of the contract by Commodity Housing Network.

On May 14th, Taiyuan City proposed the implementation of the policy of housing purchase restriction, which is for cities and towns that have more than 2 sets of housing (including 2 sets of housing) in the city and households with more than 1 set of housing (including 1 set) of City 6 housing. Urban residents’ families have temporarily suspended the purchase of housing in the Sixth District of the city.

On May 14th, the newly-built commodity houses purchased by non-local household registration personnel in the restricted area in Dandong City were listed for trading only after they had signed a commercial housing sales contract for 2 years and obtained the immovable property rights certificate.

On May 14, Guiyang City not only reaffirmed that it would not be able to transfer newly built commercial housing within three years, but also further tightened provident fund loans.

On May 15th, Chengdu's property purchase restriction policy was upgraded. In the original “restriction order”, the target of home purchase was adjusted from an individual to a family, and it was stipulated that new purchases of commodity housing or second-hand housing within the city must acquire the property right certificate for 3 years. Can be transferred.

On June 4th, Yichang City announced that it will not be listed and traded within two years from the date of signing the contract for the commodity housing network in the urban area (including the Yiling District).

On June 4th, Xuzhou City stipulated that if an urban household registration household owns a house, the commodity housing (including newly built commodity housing and second-hand housing) is less than 2 years from the date of registration, or the new commercial housing sales contract is not prepared for the time. For a period of 5 years, no listing may be made.

Centaline Property Research Center statistics show that in the past May, more than 40 cities across the country issued control policies up to 50 times, setting a record for the number of single-month regulation. At the same time, the total number of regulatory policies introduced in the first five months of this year increased by about 60% compared to the same period last year.

...“As a third-tier and fourth-tier cities, Yichang joins restrictions on sales, which fully explains the continued in-depth development of the property market regulation.” Zhang Dawei, chief analyst of Centaline Property, believes that the central reason for the intensive release of this round of real estate control policies is that house prices have fluctuate in some cities.